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ICAC safeguards anti-corruption achievements, advances towards new milestone in year of fruitful endeavours and accomplishments

HK

ICAC safeguards anti-corruption achievements, advances towards new milestone in year of fruitful endeavours and accomplishments
HK

HK

ICAC safeguards anti-corruption achievements, advances towards new milestone in year of fruitful endeavours and accomplishments

2024-07-10 14:30 Last Updated At:19:42

ICAC Advances Towards Golden Jubilee with Fruitful Achievements in 2023, Maintaining Hong Kong's Clean Society and Global Anti-Corruption Collaboration

The following press release is issued on behalf of the Independent Commission Against Corruption:

The ICAC noted in its latest annual report issued today (July 10) that 2023 was "a year of fruitful endeavours and accomplishments" as the Commission advanced towards its golden jubilee. The ICAC sought to safeguard the remarkable achievements made in the past 50 years in combating corruption, contribute to the country's "Belt and Road" Initiative, the Guangdong-Hong Kong-Macao Greater Bay Area development strategy and the advancement of the global anti-corruption cause by synergising the tripartite partnership formed with the International Association of Anti-Corruption Authorities (IAACA) and the Hong Kong International Academy Against Corruption (HKIAAC).

Tabling the 2023 ICAC Annual Report at the Legislative Council today, the Chairman of the Advisory Committee on Corruption and legislator, Mr Martin Liao, commended and thanked ICAC officers for steadfastly carrying out the anti-corruption mission through the years, continuously bringing the anti-corruption work of Hong Kong to new heights.

Mr Liao noted that the fruitful achievements made by the ICAC in the past 50 years were reflected in the findings of ICAC Annual Surveys and continued recognitions from the international community.

According to the newly published 2023 ICAC Annual Survey, members of the public continued to show zero tolerance to corruption. On a rating scale of 0 to 10, of which 0 represented total rejection and 10 total tolerance of corruption, the mean score for 2023 was 0.3. Meanwhile, the overwhelming majority (96.7 per cent) of respondents believed that integrity was important for Hong Kong's development, indicating that the core value of integrity was deeply rooted in Hong Kong.

In addition, 98.9 per cent of respondents said they had not personally encountered corruption in the past year. Similar findings were recorded in the past 10 years, reflecting that Hong Kong was a very clean society.

On the international front, Hong Kong ranked 14th out of 180 countries and territories rated in the Corruption Perceptions Index 2023 released by the Transparency International. In the World Justice Project's 2023 Rule of Law Index, Hong Kong ranked 9th under the factor of "absence of corruption" out of 142 countries/territories. These rankings not only reflected Hong Kong's effective anti-corruption work, but also the city's sound rule of law.

Meanwhile, in the newly issued World Competitiveness Yearbook 2024, Hong Kong's competitiveness improved by two places to 5th among 67 economies. Under the indicator "bribery and corruption do not exist", Hong Kong jumped six places to 4th from 10th last year, topping the Asia-Pacific region. The result reflected that enterprises and investors were confident of Hong Kong's business environment and anti-corruption work.

In the 2023 ICAC Annual Report, the ICAC Commissioner, Mr Woo Ying-ming, noted that the year was "a year of fruitful endeavours and accomplishments". The Commission leveraged Hong Kong's unique advantage of being "backed by the motherland and connected to the world" in fostering closer collaboration with anti-corruption counterparts worldwide and embarking on a new chapter in global graft fight.

Last year, the ICAC fostered a closer co-operation with the United Nations Office on Drugs and Crime (UNODC). Apart from hosting an anti-corruption workshop for members of the Global Operational Network of Anti-Corruption Law Enforcement Authorities (GlobE Network) in Vienna, the Commission also organised a training programme for GlobE Network in Hong Kong in February this year. The ICAC and UNODC also jointly developed the "Global Policy Guide for Strengthening Youth Engagement in Anti-Corruption Initiatives", which served as a practical reference for anti-graft agencies around the world to promote youth engagement in the fight against corruption.

To further contribute to the national and global anti-corruption cause, the HKIAAC was conceived last year and pilot courses were organised for a number of overseas anti-corruption agencies. Upon its official establishment this February, a robust tripartite partnership was formed amongst the ICAC, the HKIAAC and the IAACA, of which the ICAC Commissioner, Mr Woo Ying-ming, serves as President to promote global anti-corruption collaboration. Moreover, the ICAC maintained close liaison with the National Commission of Supervision and played an active role in promoting the integrity building in the Guangdong-Hong Kong-Macao Greater Bay Area.

"This new strategy will bring the ICAC's work to the next level, solidifying Hong Kong's reputation as a city of probity and providing solid support for Hong Kong's advancement from stability to prosperity whereby Hong Kong can make substantial contribution to the country's development and continue to tell the good stories of China, 'one country, two systems' and our city to the international community," Mr Woo noted.

ICAC's determination to forge ahead against all difficulties to combat corruption with its holistic "three-pronged" strategy has helped maintain Hong Kong as one of the cleanest places in the world. Last year, the corruption situation in Hong Kong continued to remain well under control. The Commission received 2 001 non-election related corruption complaints. Although the figure registered an increase of 9 per cent compared with 2022, the number represented a drop of 13 per cent when compared to the pre-pandemic period in 2019. The rise was mainly due to the gradual recovery of Hong Kong's economic activities after the pandemic, as evidenced in a corresponding increase of complaints concerning the private sector.

Building Management, Finance and Insurance, and the Construction Industry were the three private sector industries attracting most complaints. Last year, the ICAC smashed the largest corruption case over building maintenance and launched the new "Corruption Prevention Guide for Property Management Companies" to assist property management companies to effectively prevent corruption and enhance anti-graft capabilities.

To promote integrity management in the construction industry, the ICAC teamed up with the Development Bureau and the Construction Industry Council to launch an anti-corruption summit. The ICAC had also strengthened co-operation with regulatory agencies in the financial and insurance industries to leverage synergy and consolidate Hong Kong’s status as an international financial centre.

Civil service in the public sector remained clean. The ICAC would continue to collaborate with the Civil Service Bureau to implement the Ethical Leadership Programme. To deepen the integrity culture in government departments, the ICAC would also conduct exchanges with senior to directorate civil servants in courses organised by the Civil Service College. During the year, the ICAC conducted 65 assignment reports for government departments and public bodies to plug corruption loopholes.

The ICAC adopted an "all-embracing" education and publicity strategy to ensure the 2023 Rural Ordinary Election and the 2023 District Council Ordinary Elections were conducted in a fair, open and just manner.

"Over the past 50 years, the ICAC has been demonstrating its extraordinary strength by fighting corruption unwaveringly without fear or favour. As the Commission looks to the next 50 years, the organisation will continue to make relentless efforts, leaving no foothold for corruption and ensure that corruption has nowhere to run, and their illicit proceeds have no place to hide. The ICAC will continue to strive to keep Hong Kong prosperous, stable, clean and fair," Mr Woo noted.

2023 ICAC Annual Report: www.icac.org.hk/icac/annual-report/2023/

Findings of 2023 ICAC Annual Survey:www.icac.org.hk/en/about/report/survey/finding/index.html

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Hong Kong's Unique Advantages Highlighted at Wealth for Good Summit Gala Dinner

2025-03-26 20:05 Last Updated At:21:08

Speech by FS at Wealth for Good in Hong Kong Summit Gala Dinner

Following is the speech by the Financial Secretary, Mr Paul Chan, at the Wealth for Good in Hong Kong Summit Gala Dinner today (March 26):

Distinguished guests, ladies and gentlemen,

Good evening. What a pleasure it is to be here again with you tonight.

I am sure you all came away inspired by today's insightful discussions and engaging speakers.

Tonight, let me touch on a recurrent subject that has come up in many of the meetings this week: why Hong Kong and not another city in the region or the Mainland.

Let me explain why.

Under the "one country, two systems" arrangement, Hong Kong is where the China advantage and international advantage converge. For foreign companies seeking to tap the vast consumer market of China and North Asia, Hong Kong is the natural choice.

Take the Greater Bay Area for example. It is home to 87 million people, with a per capita GDP of US$23,000, or US$40,000, on a purchasing power parity basis. Its young population aspires to quality products and services from around the world. It is a massive consumer market. Hong Kong is your gateway to the Mainland market.

At the same time, through the Northbound Connect Schemes, you can also access the Mainland's stocks, bonds, ETFs (exchange-traded funds) and derivatives via Hong Kong, capturing the emerging investment opportunities in an efficient and familiar business and legal environment.

Our country's steady and long-term growth prospects are promising, not to mention breakthroughs in technological innovation. The recent DeepSeek phenomenon has very much spoken for this.

"Deep", indeed, is a key word for Hong Kong's capital markets.

As a leading fund-raising centre, our stock market boasts a capitalisation of US$5 trillion. It raised US$11 billion through IPOs last year, ranking fourth globally. More leading Mainland tech companies are lining up to list on the Hong Kong Stock Exchange. This year, we are expecting to raise US$17 to 20 billion in IPOs.

Consider listing your company on our Stock Exchange. Under the Southbound Connect Schemes, you will be able to access both Mainland and international capital here, greatly enhancing the liquidity and valuation of your stock.

Hong Kong is a city of seamless connectivity. Take a high speed train, and you can reach Shenzhen in 15 minutes, and Guangzhou in 45 minutes. Take a morning plane to Beijing or Shanghai, have a whole day of meetings with your business partners, enjoy a nice dinner and fly back. All in a single day.

The Hong Kong International Airport indeed connects 200 destinations with 1 000 flights each day. Half of the world's population is within five hours' reach.

More than business and investments, Hong Kong offers an enviable lifestyle unmatched by other Asian cities.

Our city is home to scenic hills, spectacular hiking trails, stunning beaches and outlying islands. You can walk to our seaside paths and country parks from the very heart of our skyscraper city. And walking in our city is a safe activity. Hong Kong has excellent law and order. It is one of the safest metropolitan cities in the world.

Some 200 Michelin-recommended restaurants are brimming with East and West culinary fare. We don't impose duty on wine. And duty on spirits has also been lowered just recently.

Hong Kong offers the best education for your children. More than 50 international schools operate in this city, providing a wide range of curricula, including American, British, German-Swiss, Japanese, Korean, and even Singaporean - giving you a plenty of choices. And five of our universities rank among the world's top 100.

Above all, Hong Kong is the ideal place for you to nurture your biggest dreams. Here, artistry meets ambition, and possibility becomes legacy.

Ladies and gentlemen, thank you for being here, for taking part in this year's Wealth for Good Summit.

I know you will enjoy tonight's Gala Dinner and the good people all about you, including the very special musical entertainment waiting in the wings for me to stop talking.

Allow me now to propose a toast, to raise our glasses in celebration: to health and prosperity, to an evening, and a lifetime, blessed with inspiration. Cheers!

Speech by FS at Wealth for Good in Hong Kong Summit Gala Dinner  Source: HKSAR Government Press Releases

Speech by FS at Wealth for Good in Hong Kong Summit Gala Dinner Source: HKSAR Government Press Releases

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